Europe Data Response Euro-zone EC Survey (Apr.) April’s EC consumer and business survey supports other evidence that the euro-zone economy could contract again in Q2, marking the region’s longest ever recession. 29th April 2013 · 1 min read
ECB Watch Balance marginally in favour of rate cut Having stated following its last meeting that it stood ready to act, it would be a big disappointment if the ECB did nothing at the forthcoming meeting on May 2nd. On balance, we think that an... 25th April 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Apr.) April’s euro-zone PMI survey provided another clear sign that a sustained economic recovery in the region is still some way off. 23rd April 2013 · 1 min read
Europe Economics Update Fiscal figures cast further doubt on austerity policies The news that the euro-zone budget deficit shrank again last year will be hailed as evidence by some that austerity is working. But the fact that most economies’ deficits have fallen by less than... 22nd April 2013 · 1 min read
Europe Data Response German ZEW Survey (Apr.) & Euro-zone Final CPI (Mar.) April’s fall in the German ZEW index highlighted investors’ fears that the German recovery will falter amid continued concerns about the euro-zone’s periphery. 16th April 2013 · 1 min read
Europe Data Response Euro-zone Industrial Production (Feb.) The small rise in euro-zone industrial production in February suggests that the sector will avoid another steep fall in output in Q1. But there is still no sign that the sector is about to spearhead... 12th April 2013 · 1 min read
Europe Economic Outlook The crisis continues Recent events in Italy, Cyprus and Portugal have put a dent in hopes that the three-year crisis in the euro-zone is finally drawing to a close. Meanwhile, previous tentative signs that the broader... 10th April 2013 · 1 min read
Europe Economics Weekly Is the ECB about to unveil another bazooka? Despite ECB President Mario Draghi’s assurance last week that the Bank “stands ready to act”, he gave very little indication of what support it might offer. An imminent interest rate cut is possible... 8th April 2013 · 1 min read
Europe Commercial Property Update When will euro-zone logistics rental values find a floor? The combination of Q4’s 0.6%q/q fall in euro-zone GDP and the weakness of the latest activity data suggest that, in the short term, falls in region-wide logistics rents are more likely to accelerate... 5th April 2013 · 1 min read
Europe Economics Update ECB "ready to act", but running out of options After leaving interest rates on hold today, ECB President Draghi acknowledged the downturn in the economic outlook and stated that the Bank stood ready to act in future. However, he provided little... 4th April 2013 · 1 min read
Europe Chart Pack Recovery already losing steam Recent activity indicators suggest that the euro-zone economy had started to lose some of its momentum even before the recent escalation of the crisis in Cyprus. Admittedly, most survey indicators are... 3rd April 2013 · 1 min read
Europe Data Response Euro-zone Flash CPI (Mar. 13) While headline euro-zone inflation fell again in March, there were some signs of a rise in core price pressures. But these are likely to prove temporary. 3rd April 2013 · 1 min read
Europe Data Response Euro-zone Unemployment (Feb.) & Manufacturing PMI (Mar.) The further rise in euro-zone unemployment in February, coupled with the low level of March’s manufacturing PMI, confirmed the underlying weakness of the economy. 2nd April 2013 · 1 min read
Europe Economics Weekly Market calm provides limited comfort The relative calmness of the financial markets during the Cyprus episode and after the Italian election might be seen as an indication that the worst of the euro-zone crisis is now behind us. But it... 1st April 2013 · 1 min read
ECB Watch A softer tone but no action The crisis in Cyprus, together with the continued deterioration in indicators of euro-zone economic activity, should lead the ECB to strike a more supportive tone at this month’s press conference. But... 28th March 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Feb. 13) The latest euro-zone monetary data showed more mixed developments in financial markets than in previous months. And there is still limited evidence of a pick-up in credit to the private sector. 28th March 2013 · 1 min read
